The number of CA men’s contracts will increase from a range of 17-20 up to 20-24, recognising the increasing number of players selected across various formats.

The value of those contracts will rise 7.5 per cent in the first year, then 2 per cent a year. Captain Pat Cummins is Cricket Australia’s highest-paid player on a contract worth about $2 million a year.

Male and female players will share $634 million over five years, a 26 per cent increase from an equivalent value of the $502 million shared under the current agreement, plus a performance pool of $57 million.

Under the new women’s agreement, the top CA contract holder on a WBBL deal can earn more than $800,000 a year, with the capacity to break the $1 million mark with further earnings in the Women’s Premier League (India) and The Hundred (UK).

The next six CA contract holders will have the potential to earn, on average, $500,000 annually when combined with a WBBL retainer and earnings from other competitions.

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The number of CA women’s contracts will increase from 15 to 18.

Hockley said the new agreement fairly rewarded Australia’s elite players.

“I am particularly pleased this MOU represents another major step forward in the rise of women’s cricket, with significant increases in remuneration for the inspirational role models of the world champion Australian women’s team and the WBBL who are driving substantial growth in female participation,” Hockley said.

Greenberg claimed the new agreement showed a commitment to grow the game.

“There is enormous capacity for growth right across the women’s game, as well as the BBL, both of which we believe have enormous untapped potential,” he said.

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